His vision drove ITC to pursue business models that today support over 6 million livelihoods, many amongst the weakest in society.
Weeks after confusion over three Mauritius-based funds whipsawing shares of Adani group firms, billionaire Gautam Adani on Monday said that "twisted narrative" seems to imply that companies have regulatory powers over their shareholders and can compel disclosures. Shares of port-to-energy group nosedived last month after reports that accounts of three of the six Mauritius-based funds that have invested most of their money in Adani group firms had been frozen by the national share depository. The three funds owned about $6 billion of shares across the conglomerate.
With the 21 unicorns collectively valued at $73.2 billion, India is the fourth biggest in terms of unicorns, behind the US, China and the UK, as per the Hurun Global Unicorn List.
Ola founder and chief executive officer (CEO) Bhavish Aggarwal will step back from day-to-day operations to focus more on engineering functions, team building, and products, apart from focusing on long-term strategic projects, such as two-wheelers, cars, and innovations in quick commerce and international expansion. "I'll be spending more time with all engineering functions, team building, and on products," said Aggarwal in an internal note, adding, "I'll also be increasing my focus on our longer-term strategic projects, including new two-wheeler products, our car project, innovations in quick commerce, electrifying ride-hailing, our cell research and development (R&D), international expansion, building our Pune technology (tech) centre, and Futurefoundry UK." To drive scale, speed, and quality, Aggarwal said he is expanding Ola Group's chief financial officer (CFO) G R Arun Kumar's role to help him steer 'day-to-day operations' across the group.
Nasper-backed fintech firm PayU has started talks to acquire domestic payment gateway major BillDesk, and the deal size could be in the range of $3-4 billion, sources in the know said. "BillDesk has been open to being acquired for some time now, but in the past the valuations that the company was seeking proved to be a hurdle," said a source. "Three years ago too, PayU had approached BillDesk for an acquisition, but things didn't go ahead due to high valuations. "BillDesk had asked for $2-billion value then," said the source.
'The deaths of the children in the Gambia would batter India's reputation as the developing world's pharmacy.'
As per the rules and regulations, members must not do anything that brings disrepute to the Parliament and affects their credibility, and members must utilise their position as Members of Parliament to advance general well-being of the people.
HR Guru Mayank Rautela offers practical advice.
'The main reason is 'they' do not want to see Dalits especially in the morning!'
The government questioned the manner in which Twitter "officially allows fake, unverified, anonymous and automated bot accounts to be operated on its platform" and said it raises doubts about its commitment to transparency and healthy conversation on the platform.
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
Fundraising activity in the upcoming financial year 2022-23 may even surpass FY22 when 52 Indian companies raised a record Rs 1.11 trillion via initial public offerings (IPOs). According to a note by PRIME Database, 54 companies (including LIC) plan to raise Rs 1.4 trillion and currently hold the Securities and Exchange Board of India's (Sebi's) approval. Another 43 companies, the note said, are looking to raise about Rs 81,000 crore but waiting for Sebi nod.
Don't expect the synthetic stones to surpass natural ones anytime soon because the world's biggest miners of diamonds aren't looking to get into man-made diamonds.
Challenges notwithstanding, there are handful of players who continue to stand tall and scale-up their business. Many of these are taking inspiration from hyper-local grocery and food-delivery business to go full stack, says Sangeeta Tanwar.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
But there are challenges, observes Tamal Bandyopadhyay.
The figure, mentioned in his affidavit filed along with the nomination papers, is over five times the assets of his parents, which as per MP CM Nath's affidavit stood at over Rs 124 crore.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
The Centre is likely to privatise profit-making enterprises, reversing its previous position of first closing or merging loss-making state-run units. The NITI Aayog, which is in the process of selecting public sector units for privatisation, is likely to put out its first list, focusing on companies in non-strategic sectors, along with those that have got Cabinet approval for stake sale, or are in final stage of due diligence. "The shortlisted firms will be put out in three-four tranches, with the first list comprising non-strategic ones, followed by strategic sectors with a focus on privatisation and not divestment," said a senior government official privy to the plan. He said the first report was expected in early April. The think tank approach is in sync with the government's new strategies on privatisation and asset monetisation.
The former McKinsey India head is presently on board of many big Indian conglomerates.
An appraisal of performance of the board and practice of values and their synergy with the organisational strategy are all crucial for an organisation to evolve into an institution, say Ramachandran Kavil & Sougata Ray.
The only feasible way to have a healthy banking sector could be making it mostly private, along with two or three large, better-run government banks, suggests T N Ninan.
'How low GDP would have been, we don't know.' 'It raises serious questions because so many indicators are pointing to such a sharp decline and GDP estimates are still showing 4 per cent growth.'
HCL Technologies on Monday said its founder Shiv Nadar will take on the role of Chairman Emeritus and Strategic Advisor to the company's board. Nadar, chief strategy officer and managing director of the company, on completing 76 years of age, has tendered his resignation as the MD as well as the Director with effect from close of business hours on July 19, according to a regulatory filing. "In order to continue to benefit from his vast knowledge, experience, and wisdom in an advisory role, the Board of Directors in its meeting held today, after considering the recommendations of the Nomination & Remuneration Committee, has approved the appointment of Shri Shiv Nadar as the 'Chairman Emeritus and Strategic Advisor to the Board' for a term of five years with effect from July 20, 2021," it added.
The housing finance major issued non-convertible debentures and warrants to raise another Rs 4,000.03 crore.
Vodafone plc has made it clear that it will not make any fresh equity infusion in its Indian telecom business--Vodafone Idea Ltd (VIL). Responding to a query, a spokesperson at the UK-headquartered telco said: "Just to confirm our position, there will be no new equity infusion from Vodafone Group." This is the first time that Vodafone has spoken about its stand after the government announced a telecom package.
Whether one likes it or not, services constitute the value-addition sector that the country has to build on, using its comparative advantage in infotech and related skills, suggests T N Ninan.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
Sanjeev Goel, business head, Manipal ProLearn, lists 10 courses that are currently most suitable for working professionals to upskill or reskill to ensure they remain of value in the job market and in future-ready organisations.
'Facilitating conversion of well-run NBFCs into banks is urgently needed.'
In this weekly self-help series, mental health and life coach Anu Krishna tells you how to take control of your life.
Attacking the Modi government, Sonia said it has sought to erode our institutions.
'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.
India is Asia's other bad debt headache.
'She was the unanimous choice of the search-cum-selection committee.'
Banks feel happy shifting their toxic assets from loan books to investment books while the ARCs enjoy the management fees with a smile, observes Tamal Bandyopadhyay.
Earlier this month, the Central government said in a reply in Parliament it had taken measures to double farmers' income by the end of FY23 and the progress made so far indicated it was "on the right track". However, a close look at the data and at the assumptions made shows that as of now, it appears the country is unlikely to achieve the goal in real terms.
Prime Minister Modi, who is in Japan on a two-day visit to attend a summit of the Quad leaders at the invitation of his Japanese counterpart Fumio Kishida, penned an op-ed on the vibrant relations between India and Japan in the Yomiuri Shimbun.
'Banking is a business of trust.'
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
